Fiat SpA raises Chrysler stake by 16%

AudeLagorce

Corrects the size of the stake increase.

LONDON (MarketWatch) -- Italian car maker Fiat SpA
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on Thursday said it will exercise in full its call option to raise its stake in Chrysler by an incremental 16% at a cost of $1.27 billion. Fiat will exercise the option after Chrysler has repaid its debt to the U.S. and Canadian governments in the second quarter. "This is a fundamental step toward completion of the momentous integration of Fiat and Chrysler, initiated less than two years ago, that will result in the creation of a global automaker," Fiat Chief Executive Sergio Marchionne said in a statement.

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